Stocks
RBC Reaffirms Hold Rating on Home Depot with Price Target of $342
RBC Capital analyst Steven Shemesh has reaffirmed his Hold rating on Home Depot (HD) and set a price target of $342.00.
Shemesh, who covers the Consumer Cyclical sector, has an average return of -1.7% and a 44.73% success rate based on TipRanks data.
The current analyst consensus on Home Depot is a Moderate Buy with an average price target of $387.16.
In its latest earnings release for the quarter ending August 2, Home Depot reported revenue of $47.86 billion and net profit of $4.77 billion, up from last year's $45.28 billion in revenue and $4.55 billion in net profit.
However, a recent increase in insider selling may be a cause for concern, as 65 insiders have sold shares over the past quarter compared to earlier this year.